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Too bad you are leaving, I enjoyed your stuff. Your thread is intellectually respectable.
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Thank you, Louetta.Comment
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BlueWolf, while there are a handful of people posting, please realize that there are usually hundreds of lurkers here that read your and other posts regularly. I understand about priorities (and sometimes vanish from posting here for periods of time) but I still check in on this site (and your posts) daily and will miss you if you depart.
Many of us have been here since the IBD bulletin board days (not sure of the year, but is has been a while...lol) and your technical view is/has been a great new addition to this community.
Hope to see your thoughts pop up here when you do find time!
Thank you; -AdamComment
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Thank you, Adam.Comment
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BTW all, I really like the chart for one of the stocks Mr. Market was considering for his latest pick, YY. I’ll add a daily chart to this post to show why, but the weekly is also showing signs of a bullish retracement and bounce. I’m always a little leary of Chinese stocks because things can happen while the market is closed, but this had a nice setup for a swing. I took a shot today on it. I got a good entry and the risk/reward looks solid.
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Here’s another chart that looks to me like it is setting up as a long swing trade, APPN.
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I jumped into Mr. Market’s pick, SEDG, today for a swing long. The chart looked really promising this morning and was too good to pass up. I will post a chart or two later when action dies down. I have been very actively daytrading lately, but I will continue to post here as time permits. It’s my way returning the favor for all the great picks Mr. Market has shared over the years. I hope everyone is doing well.Comment
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Good......Comment
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Here’s the daily chart that caused me to watch it this morning. The chart includes a partially formed (the day isn’t over yet) bar from today. You can ignore the topping tail because today’s bar is still forming and this snapshot was taken during the doldrums. The doldrums are my name for the mid part of the trading day when volume drops off and not much meaningful action occurs. I consider this to be from around 8:30am until 11:30am.
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Here’s the 5 minute chart from today. It shows exactly why I chose to enter. I want to swing trade it, but it needs to close well after that big sell off the last few days, or I’m gonna get nervous. This is why I prefer day trading right now. The market still gets rattled easily.
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Still holding SEDG. It’s the only stock I’m swing trading in my trading account, and I wouldn’t have held it if it weren’t a Mr. Market pick. It helps that I got a good entry. I’m still overwhelmingly day/scalp trading for now. Market volatility had been declining steadily over the last month, but spiked today for some reason. For those of you that don’t know, there is an indicator of market volatility put out by the CBOE called the VIX. It’s based on S&P call and put option pricing and can be a useful measure of the overall magnitude of price fluctuations in the market. It is accessed as symbol VIX on Ameritrade and $VIX.X on TradeStation. I’m not sure about other platforms, but you can usually look it up as CBOE VIX. It’s a valuable tool.Comment
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I think most are aware of the VIX. However, it would be valuable to read how you use it to trade. Thanks for joining this forum. I enjoy reading your posts.Tim - Retired Problem SolverComment
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Hi Tim. I use the VIX as an overall indicator for determining my willingness to swing trade. When the VIX is high, I am far less willing to swing trade because I don’t like sitting through draw downs while I’m waiting for the trade to hit target. In such cases, I almost exclusively day trade, although there are certain option plays I might use in a high volatility market, e.g. straddles and spreads. For individual stocks I use the Average True Range (ATR) volatility indicator when I am scanning to determine whether or not I am willing to trade an individual stock, but I use counter intuitively. For a day trade, I shoot for a 1%-2% profit on every trade. I use the ATR to tell me whether or not a particular setup has the correct potential. For example, if I see a $100 dollar stock with am ATR of less than $1, I am very unlikely to trade it because the ATR is telling me that lately the stock has been moving less than 1% of its value on a given day. If the ATR is $5, not only am I likely to trade it (if the setup is good, of course), but I might be tempted to hold it longer during the day if it moves my way.Comment
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In case you’re wondering, I dumped out of SEDG today, and now it’s forming a bearish engulfing bar on the daily, although we have to wait and see how it closes. In any event, I’m out for now. I can always come back in. You can see why I hate to swing trade right now. It’s like trying to invest in a yo-yo.Comment
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Interesting. Thank you.Comment
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